The leading universal supplier of distribution services, ProLogis, recently announced that it has come to a definitive conformity with the affiliate of Blackstone Real Estate Advisors. The conformity is to sell a North American industrial selection which has minority interest in hotel belongings and interests of its property funds. The total purchase price will be $1.02 billion.
Just about $600 million is expected to produce more than $1.6 billion of gross proceeds from the combination of this business along with year-to-date dispositions and charity.
Blackstone Real Estate Advisors beforehand announced that its 2010 anticipation would be $1.3 to $1.5 billion. All net proceeds will be used in refund of debt and to fund development activity
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